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The Atlanta Braves signed an outfielder to a five - year contract. The contract calls for the following cash flows: a signing bonus of $

The Atlanta Braves signed an outfielder to a five-year contract. The contract calls for the following cash flows:
a signing bonus of $4.00 million today,
$12.24 million in year 1,
$13.31 million in year 2,
$14.03 million in year 3,
$15.35 million in year 4, and
$16.29 million in year 5.
If the outfielder has a discount rate of 6.00% per year, what is the value of his contract today (in millions)?(Express answer in millions. $1,000,000 would be 1.00)
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